Some decent setups today.
First was GS early in the morning and later in the afternoon (2c setup)
FSLR- I have two up-arrows on the 5-min 3/10macd. The first shows a valid long entry trigger, but I didn't take it as price felt extended. I did enter on the second up arrow though.
GLD- into the close with a 2c setup
Thought I would include this chart of the SPY with the TICK and Advance/Decline. I mentioned in a past post about watching the A/D line and its interplay with the zero-line. Here was a good example of how sellers were hitting resistance points, but once the A/D line recovered zero the buyers seemed to be in control. Also worth noting, price held the 50% retrace from Monday's gap up.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.